Even though New York is what we always refer to as a “renter’s city”, who doesn’t have a dream of one day owning a Brooklyn brownstone, or a 300sqft closet in SoHo? Don’t get your hopes up&hyellip;
Owning a home in New York City might as well be the stuff of fairy tales for most of us. Even though job creation has rebounded significantly since the greatest depths of the recent recession, homeownership in the United States is at its lowest point since 1967. No city drives this statistic home further than New York, where citywide homeownership stands at 32.5 percent. And just in case we needed especially stark verification of this, a new interactive map that depicts owner/renter ratios in America’s biggest cities shows that the economic wounds created by the housing crisis haven’t yet healed. Not surprised? Neither are we.